DEEPAKFERT trade ideas
Deepak Fertilises and Petrochemicals Weekly Chart looks bullish. Last week formed Green Hammer weekly candle indicating bullish nature. Weekly break out re-test done. Decent delivery based volumes for the past several weeks in the counter indicates delivery based accumulation at lower levels. Long term target could be 900+. Personal Observation only.
deepak fertilisersSmartchem Technologies Ltd. (STL), a 100% subsidiary of Deepak Fertilisers and Petrochemicals Corporation Ltd. (DFPCL), said it would invest ₹2,200 crore to set up a technical ammonium nitrate (TAN) complex at Gopalpur Industrial Park in Odisha. The project at Tata Steel Industrial Park, Gopalpur, will have a capacity of 377 kilo tonnes per annum (ktpa), and is expected to be completed by August 2024.On completion and commencement of the project, Odisha would become a key source of TAN to the entire Eastern belt where majority of mining and infrastructure growth is foreseen in future.
DEEPAK FERTILISERS - Bull Pennant Breakout - Swing TradeThe above analysis is done purely on basis of Price Action & Chart Patterns.
The analysis is done on daily TF hence price may take few days to few weeks in order to reach the targets.
The stock is backed by good fundamentals. Upmove has been well supported by Volume.
Entry and SL is explained in image itself. Target as per pattern is also shown in the image itself.
To get an overall view of the stock movement, check the below image as well.
[ b]The above analysis is purely for educational purpose. Traders must do their own study before entering into any trade. Traders must trade as per their own risk taking capacity and money management.
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